SpaceX (bStocks Tokenized Stock) (SPCXB) is 454.1× the size of CoreWeave • Robinhood Token (CRWV) by market capitalisation. Their daily returns move loosely together (correlation 0.36 across 38 shared trading days). CRWV has been the more volatile of the two, at 112% annualised against SPCXB's 71%.
$51.0300
$135.5800
CRWVSPCXB
0.36over 38 shared trading days
Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.
| Metric | CRWV | SPCXB |
|---|---|---|
| Max drawdown (400d) | -47.0% | -47.5% |
| Risk-adjusted return (90d) | -0.31 | 0.45 |
Relative strength over 90 days: SPCXB outperformed CRWV by 34.7% — measured on the CRWV/SPCXB ratio, so it holds regardless of market direction.